Driven by the strong inflow of spot ETF funds, MicroStrategy's continuous increase in holdings, a favorable macroeconomic environment, and increased miner confidence, Bitcoin prices may break through the $100,000 high before the end of the year. On November 26, Bitcoin prices returned to $95,000 after falling below $91,000. The nearly 5% increase in two days indicates a clear decoupling of the crypto market from the traditional financial market. This transformation is worth noting, as Bitcoin was previously closely correlated with the traditional financial market. As the global economy faces severe challenges, the appeal of Bitcoin as a scarce asset is gradually increasing. On November 27, the net inflow of funds into the US Bitcoin spot ETF was $103 million, mainly flowing into Fidelity's FBTC and Bitwise's BITB, indicating that the trend of $548 million in outflows over the previous two days has been reversed, further boosting the sentiment in the crypto market and reversing the negative price trend of the short-term correction. In addition, Bitcoin mining companies have also regained confidence. After 10 consecutive days of capital outflows, the holding volume of miner addresses has increased, indicating that market sentiment is starting to be optimistic. Miners continuing to hold Bitcoin usually indicates strong confidence in the bull market, while large-scale profit-taking is often due to the presence of FUD sentiment. Glassnode data shows that the monthly average income of Bitcoin miners is 476 BTC, of which at least about 30% will be used to maintain normal operating expenses. Finally, MicroStrategy's ongoing Bitcoin reserve strategy has greatly enhanced investors' confidence in holding the coin. The company has accumulated a total of 331,200 BTC and plans to continue acquiring Bitcoin, which may increase to 4% of the total Bitcoin supply by 2033. Therefore, despite the high uncertainty in the global economy, the possibility of Bitcoin prices breaking through $100,000 remains high, thanks to strong on-chain activity, growing institutional interest, and favorable macroeconomic conditions. These factors have collectively fueled investors' optimistic sentiment about Bitcoin's future growth.Disclaimer: The information provided in this section is for reference only and does not constitute any investment advice or official view of FameEX.
